Some talk that an Australian corporate just gave it a bash lower from the 1.0180’s to 1.0161, tripping a few sell stops through 1.0170, but think we’re also seeing some profit taking after Friday and this morning collapse in the cross to around the 1.2010 level.
More AUD/USD bids sit down at 1.0150/60
EUR/AUD’s attempting to get a foothold above Friday’s 1.2086 highs, but hourly trendline resistance comes in around the 1.2105/10 area which really has to be breached for an extended move up to the 1.2170 area.
The cross is heavily oversold at the moment but the down trend is strong and yield support the move. The assault on the 1.2000 barrier can’t be ruled out especially if there’s more negative EUR sentiment building. A clean break of 1.2000 can then target a fibonnacci projection around 1.1885/90.
AUD’s sitting around 1.0165 with the cross around 1.2080
